Apple reported on Thursday that amid inflationary pressure and a weakening global economy

iPhone sales and revenue from services drove quarterly earnings over expectations.

A good earnings season for US IT companies was topped by the iPhone maker's performance, with Meta

Google, and Amazon also exceeding forecasts following a tough period of decreased sales and profits.

In the first three months of this year, the industry leader in smartphones posted a $24 billion profit on $94.8 billion

Despite the fact that the overall revenues for the period were lower than they had been the previous year

this was to be expected, and Apple's shares increased by around 1% in after-market trade.

Sales of iPhones were up two percent and tallied $51.3 billion in the quarter, according to earnings figures.